J.M. Smucker Half-Year Report 2024

The J.M. Smucker Co. announced results for the second quarter ended October 31, 2023, of its 2024 fiscal year. Financial results for the second quarter of fiscal year 2024 reflect the divestiture of certain pet food brands on April 28, 2023. All comparisons are to the second quarter of the prior fiscal year, unless otherwise noted.

Highlights

• Net sales decreased $266.5 million, or 12 percent. Net sales excluding the divestiture and foreign currency exchange increased 7 percent.
• Net income per diluted share was $1.90. Adjusted earnings per share was $2.59, an increase of 8 percent.
• Cash provided by operations was $176.9 million compared to $205.0 million in the prior year. Free cash flow was $28.2 million, compared to $102.9 million in the prior year.
• The Company updated its full-year fiscal 2024 financial outlook, which reflects the acquisition of Hostess Brands, Inc. (“Hostess Brands”).